Intellectual property specifically pertains to the legal rights over creations of the mind. Intellectual Property (IP) rights consist of 4 sectors: copyright, patent, trademark, and trade secret. IP protects the mind of creators from being imitated and promote entrepreneurship by providing rights to creator’s creativity. IP is separated into two categories: industrial property and copyright. 

Industrial Property consist of: patents for inventions, industrial designs, geographical indications, and trademarks. Copyright consist of: literary works, music, architectural design, films, and artistic works (sculptures, paintings, etc.) IP is for everyone, and it is important to implement it in your business to protect your work. Implementing IP onto works will maintain the cycle of creators and innovators looking for the next big thing. If your works are included under IP, it will force creators in your field to find new material because yours is already protected.